Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h +0.026%

Price spread now: BingX against Injective−0.739%117s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.739% cheaper against Injective than usual: you would sell low and buy high (spread −0.739% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$74 on $10k: about 27 days of funding at the current rate (+$3 a day). The two prices were read 117 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NIGHT/USDC PERP	0.02435	0.0033	pay 0.0004% / 1h	29m 26s	$1K	$58K	5.5x
Short	BingX NIGHT-USDT	0.02417	0.0126	get 0.0063% / 4h	29m 26s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BingXbpOrdersPrice spread, now −0.739%Rate

Funding earned: $19.46
Price spread: −0.739% → 0.000%: −$73.92
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$64.48
Costs to cover: 0.100%
Break-even: 30.2 days

Slippage unknown: Injective: no order-book sample; BingX: live order book, 7 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 7 min ago	8.33 bp	29.9 bp −$30	88.6 bp −$886	849.1 bp −$84.9K	1215.7 bp −$607.8K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NIGHT on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−10.464%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERPlong	+0.0033%	1h	0.02435	long leg	$1K	$58K	5.5x
Aster NIGHTUSDT	+0.0100%	4h	0.02419	−0.675%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02417	−0.732%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02417	−0.739%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02418	−0.706%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02418	−0.698%	$222K	$199K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02421	−0.577%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02419	−0.657%	$647K	$393K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02418	−0.698%	$1K	$1.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDTshort	+0.0126%	4h	0.02417	−0.739%	—	$6.6M	—
BloFin NIGHT-USDT	+0.0126%	4h	0.02410	−1.027%	$284K	$42K	50x	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02417	−0.739%	$782K	$460K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0329%	1h	0.02420	−0.604%	$99	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+1.8830%	1h	0.02440	+0.207%	$65K	$61K	25x	as long as short